CFD Trading Plus500 Review Australia 2022

This operator is blacklisted by tradersbest.com due to poor customer reviews, payout issues or an unreliable license.
Play with one of tradersbest.com's recommendations instead for a safer experience:

77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.


Our Plus500 review found that the company has obtained a license from the Australian Securities and Investment Commission. It is also listed on the London Stock Exchange’s Main Market for Listed Companies and offers customers an extensive range of over 2000 instruments.

Plus500 manages to deliver all that is expected from the biggest names of brokers out there. They are a highly rated CFD provider on the Australian market, offering enthusiasts the opportunity to trade CFDs on cryptocurrency.

Pros & Cons of Plus500
Pros & Cons of Plus500
  • No commissions claimed
  • Modern platform
  • Well licensed and authorized
  • Could use educational tools
Company
CompanyPlus500 Ltd
HeadquarterBuilding 25, Matam Haifa, 31905 Israel
Year of Founding2008
CEODavid Zruia
Web Sitewww.plus500.com
Available LanguagesGerman, French, English, Italian, Spanish, Russian, Polish, Dutch, Swedish, Portuguese, Norwegian
Customer SupportLive Chat, Email Support
Email[email protected]
Phone-
Licence250/14
CySEC - Cyprus Securities and Exchange Commission
Verified by-
Payment Methods
Show More

Security, Usability, Look & Feel - How user-friendly is the Plus500 site?

Whenever you are looking to transact with an online service, your security should be your number one concern. To protect their client base, Plus500 maintains strict measures that are put in place to avoid any theft or fraud. All accounts are verified when signing up and ID proof is required before an account can operate. There is also the Client Money Protection in place that guarantees no client funds are used for hedging, all the funds are held in segregated trust accounts, no speculative market positions are initiated and finally, there is protection if Plus500 goes into liquidation.

82/100
Rating
Plus500 Highlights
  • A licensed provider
  • No hidden fees
  • User-friendly platform

The webpage put on offer by Plus500 is neatly designed. It has a modern appearance with a predominant blue and whie colour scheme. The tab layout at the top allows any customer to navigate the site and find the necessary information you need about the service. Finally, the website is secured by SSL encryption to keep all customer and company traffic protected while using the site. There is a very limited amount of images used within each section allowing the pages to load very quickly.

How To Trade – Our top tips for Plus500 CFD trading

Plus500 is available once you have created an account with the online service provider. This can be done by clicking on the ‘Start Trading’ button in the top right-hand corner of the page. You will then need to submit all your details and verify your email address to gain access to your account page within the service. Plus500 CFD trading is similar to the other trading offers out there and this process will be a necessity with each of them.

Once your email address is confirmed, you will need to go through ID verification to ensure that your account is legitimate and you are not trying to misuse the service. Once your account has been verified, it is now time to choose one of the supported payment methods and begin transacting with Plus500. Depending on your chosen payment method, you may have to pay a small fee before the funds are processed and each method will also have a processing period before the funds are credited to your Plus500 account. To begin trading with Plus500 is you have to create an account, but if you would like to take a look at another trading option, head to our IG crypto trading page.

Company
CompanyPlus500 Ltd
HeadquarterBuilding 25, Matam Haifa, 31905 Israel
Year of Founding2008
CEODavid Zruia
Web Sitewww.plus500.com
Available LanguagesGerman, French, English, Italian, Spanish, Russian, Polish, Dutch, Swedish, Portuguese, Norwegian
Customer SupportLive Chat, Email Support
Email[email protected]
Phone
Licence250/14
CySEC - Cyprus Securities and Exchange Commission
Verified by
Payment Methods
Show More

Payments - What payment options are available at Plus500?

Providing a comprehensive service would not mean much if customers are not able to transact with the Plus500 service. If you are interested in the Plus500 CFD Australia market, you will need to have access to one of the supported payment methods that are available before you are able to purchase any of the cryptocurrencies. The majority of traditional payment methods are covered with some e-wallet support as well. You will be able to transact with Plus500 if you have a VISA or MasterCard debit/credit card. Bank transfers are also covered and any PayPal or Skrill users will also be able to make withdrawals and deposits.

As with any online transaction, there may be minor credit card fees that are incurred and for the most part, Plus500 absorbs this fee. If the fee is over the top, it will be stated on your transaction receipt. There will also be transactional fees that apply to the majority of payment methods and these should always be researched before committing to the service.

Customer Service - 24/7 live chat available at Plus500

A major aspect of our Plus500 review would be the customer service that the company has put on offer to its customers and anyone interested in signing up with them. To rank a customer service team, the amount of contact methods, efficiency of the service and general interactions are all looked at. A great representative will be friendly and informative.

With Plus500, you will find an extensive FAQ that has been put together which will most likely include the issue or query that you may have. This FAQ includes just about any question related to Plus500’s service but on the scarce occasion that you can’t find your answer, there is also a dedicated support email address that can be used to detail your issue. There is also a live chat feature available to Australian customers, and you can also contact them through WhatsApp. Plus500 support team can be contacted by any of the three methods, email, chat and WhatsApp, 24/7.

License & Security - A secure and reliable crypto brokerage

A license would need to be obtained by any broker to operate as an authorized financial service provider and our Plus500 review 2022 found that they have managed to obtain the necessary license from the Australian Securities and Investment Commission (ASIC) with the license number #417727. This license is all that is required to operate as a legal financial service provider within Australia and Plus500 would need to adhere to established guidelines s in order to obtain this license.

CySEC - Cyprus Securities and Exchange Commission
FCA - Financial Conduct Authority
ASIC - Australian Securities and Investments Commission
FMA - Financial Markets Authority
FSCA - South African Financial Sector Conduct Authority
+ 3

In terms of security, Plus500 CFD trading has ensured that all data that is transferred via their site, as well as customer funds are protected. This is done by their Client Money Protection program which makes use of security measures to avoid any cases of theft. The site is also SSL encrypted to keep data safe. To see just how these licenses and security measures compare with other brokers on the market, head to our FX Open crypto page.

Reputation and customer feedback – Check out user reviews before signing up

This Plus500 CFD review was conducted with the same procedure as all of the reviews here at TradersBest.com. The service experience is only limited to what our team experienced while testing the broker’s offer. While browsing through some of the customer feedback platforms, it must be noted that there are a number of negative experiences out there. Online customers generally review any service quite harshly and if you have any concerns, it would be best to address them with Plus500’s customer service team before signing up.

Plus500 Crypto

Cryptocurrencies - What to expect from Plus500 crypto trading

Plus500 crypto trading has very quickly become one of the most popular instruments throughout their entire service. The crypto market has shown tremendous growth globally and many customers will be looking for an opportunity to trade Bitcoin CFDs. The trading of Plus500 cryptocurrency is completed through contract for difference (CFD) options which allows customers to speculate on financial markets without having to take ownership of underlying assets. You will agree to exchange the difference in the price from when the contract is opened, until it is closed.

82/100
Rating
Plus500 Highlights
  • A licensed provider
  • No hidden fees
  • User-friendly platform

The service is available 24/7 to all customers and includes trading of Bitcoin, Ethereum, Crypto 10 Index, Litecoin, NEO, IOTA, Stellar, EOS, Bitcoin Cash ABC, Cardano, Tron and Monero. All Australian customers will be able to trade with up to 1:2 leverage with the online service. Plus500 . It is important to remember that you will not own or have any rights to the underlying assets. To further understand this, take a look through the Plus 500 crypto terms and conditions. If the trading of CFDs is not what you were looking for, read over our etoro review to get an idea of what else is on offer.

To get down to the basics of crypto markets, head to our crypto trading homepage.

Fees - No commission fees found in our Plus500 review

While our Plus500 review found that there were no commissions associated with the service, there are still service fees that will apply to the majority of services rendered. The additional fees that may be applied include Overnight Funding, Currency Conversion Fees, Inactivity Fees and Guaranteed Stop Orders. These are fairly standard for the majority of brokers and Plus500 maintains a stance of only being compensated through the market spread.

The currency conversion fee is set at 0.5% of the transaction’s realised net profit and loss. The overnight funding fee will differ from instrument to instrument but the percentage can be found within the details of each instrument. To find out how these fees compare to other brokers in the industry, head to our FPMarkets review 2022 page.

Jurisdictions and Limits - Some limits found in our Plus500 review for Australia

The Plus500 review for Australia found that they have jurisdiction to offer their services to the entire Australian market. The company has many subsidiaries all over the world which further branch out their service. Their biggest customer bases include the UK, South Africa, Australia and New Zealand. For each of these countries, Plus500 has been required to obtain the necessary licenses and authorization required to operate in each of the countries.

82/100
Rating
Plus500 Highlights
  • A licensed provider
  • No hidden fees
  • User-friendly platform

Whenever you are making use of a broker’s service, you will be limited with the transactions that you are able to complete within a certain time period. There may also be limitations placed on transaction amounts and these will all be detailed in the Plus500 user agreement. If you have any queries, be sure to confirm them with the customer service team before transacting.

Other Trading - More than just Plus500 crypto trading here!

Our Plus500 review takes a comprehensive look at the full service that is on offer. The crypto market mentioned in the previous section certainly manages to hold its weight against the big name brokers out there. But besides the Plus500 crypto options, they also boast to have over 2000 instruments for all of their customers to make use of. These include indices, forex, commodities, shares, options and ETFs. No matter what you are interested in trading, Plus500 should have it all. Be sure to check out the Plus500 page to see exactly what is on offer and research your trading options before you make the decision to invest your money.

The trading platform that is put on offer to make use of these instruments is well designed. Besides this, it would have been a major benefit if our Plus500 review 2022 could find some educational tools, however, there were none on offer. To see just how the service offered from Plus500 compares, be sure to check out our Cryptocurrency brokers page where we take a look at the biggest names in the industry.

82/100
Rating
Plus500 Highlights
  • A licensed provider
  • No hidden fees
  • User-friendly platform

Overall Conclusion - Among the best in the crypto trading industry

Our Plus500 2022 has found that the broker can definitely be considered among the best in the industry. The impressive range of instruments available should provide all customers with plenty of opportunities to trade in their preferred markets. The company has managed to obtain the necessary license to operate confidently in Australia and the security measures that have been put in place should serve as a comfort to any of their customers. To find out just how Plus500’s service compares to another broker, head to our XM.com review Australia.

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